Glossary of Terms

The governing body responsible for managing the operations of the Panama Canal, essential for global maritime trade.

Extra insurance fees are charged when an insured risk increases, ensuring adequate coverage during the original policy period.

Payment conditions require buyers to pay after inspecting goods, ensuring fairness in transactions, and protecting both parties' interests.

A vital term in shipping that indicates the ability of a vessel or cargo to remain buoyant and secure during transport, ensuring safety and stability.

Crucial maritime term ensuring cargo remains buoyant and retrievable during shipping, vital for safety and compliance.

A vital role in the maritime industry, supporting vessel operations and ensuring safety on board through a range of essential skills and responsibilities.

Nautical term referring to the rear or aft part of a vessel, crucial for understanding ship navigation and positioning.

The position behind the front of a vessel, relative to its bow, is crucial for navigation and vessel operations.

The situation where goods cannot be delivered as planned, often due to loss, damage, or unforeseen circumstances during transportation.

A reduction or deduction in charges or fees originally agreed upon due to unforeseen circumstances affecting cargo delivery.

The position of an object or target directly to the side of a ship or aircraft, at a 90-degree angle to its direction of navigation.

The point at which cargo or passengers are placed onto a vessel, aircraft, or transport unit, indicating they are set for departure.

Portion of a ship's hull that is above the waterline, crucial for stability and functionality.

The angle measured in degrees from true north to a specific object or location, playing a vital role in accurate marine navigation and operational safety.

The practice of carriers absorbing shipping costs instead of passing them on to customers impacts pricing and business relationships.

The process involves a receiver taking delivery of products, confirming they meet agreed contractual terms, and acknowledging ownership transfer.

Additional fees that arise in transportation beyond standard service costs significantly affect logistics and supply chain operations.

Additionally, tailored services in logistics that enhance flexibility, addressing specific client needs beyond standard shipping.

Accounting method that records revenues and expenses when they are incurred, providing a true reflection of a company's financial position.

The completion of cargo loading onto a vessel marks a vital transition in the shipping process.

The silent acceptance of terms and conditions impacting agreements and responsibilities between logistics parties.

Unpreventable natural events that exempt parties from contractual obligations due to unforeseen circumstances.

The 'Act of Man' refers to events caused by human actions or negligence, distinguishing them from natural events categorized as 'Acts of God.'

Managerial accounting method that allocates indirect costs accurately, providing detailed insights into the true costs of products and services.

The complete weight of the cargo, including all packaging materials, is essential for determining freight charges and organizing transport logistics.

The hiring of an aircraft for a specific trip, tailored to meet unique transport needs, is ideal for urgent or personalized travel solutions.

Tariffs are applied based on the assessed value of imported items, calculated as a set percentage of their worth, and directly impact the final cost of international trade.

Calculated as a percentage of the cargo's value, aligning transportation costs with the worth of the shipped goods instead of their weight or volume.

A fee charged by freight forwarders to manage and coordinate the delivery of cargo to its final destination, ensuring accuracy and efficiency.

A treaty that governs the safe transport of dangerous goods on inland waterways, ensuring compliance and environmental protection during logistics operations.

AFR mandates the submission of cargo information before shipments arrive at or depart from ports, enhancing security and customs practices.

A crucial document in freight logistics that notifies the consignee about shipment details, including contents, quantity, and expected delivery date.

A key intermediary in international trade, facilitating documentary credit transactions and ensuring secure communication between exporters and importers.

Expert guidance on logistics strategies, regulatory compliance, risk management, and cost optimization provided by specialized professionals.

A four-hour shift aboard ships, playing a crucial role in navigation and operational tasks from noon to 4 PM.

A structured pricing schedule established by freight forwarders and shipping agencies that outlines charges, fees, and rates for their services.

The consolidation of multiple smaller shipments into a single larger shipment for efficient transportation to a common destination.

Pre-determined value of goods or property established between insurer and insured, ensuring clarity in compensation in case of loss or damage.

The mutually established weight of a shipment between the shipper and the carrier, forming the basis for freight charges and compliance with regulations.

The vertical distance between a vessel's waterline and its highest point, crucial for safe navigation under bridges and overhead structures.

AFFs are specialized logistics providers that facilitate the air transportation of goods, managing complexities from booking to customs clearance.

AFHF charges are levied for the processing and movement of cargo shipments through air terminals, separate from the base freight rates.

Charges assessed by airports for the use of terminal facilities impact both passenger travel and air cargo logistics.

Maritime tracking technology that helps identify and monitor vessel positions in real time, supporting safe navigation and efficient traffic coordination at sea.

An AIS Base Station is a fixed coastal station essential for the Automatic Identification System (AIS), enhancing maritime safety by facilitating vessel tracking and communication.

Uniform pricing strategy for shipping that sets a standard charge across various commodities, simplifying freight pricing for shippers.

Comprehensive pricing model that includes all fees associated with transporting goods from the point of origin to the destination.

Marine insurance policy providing extensive protection against a variety of risks during the transportation of goods.

Transportation routes that utilize exclusively maritime vessels to move goods between distant ports, bypassing overland options.

Pricing structure covering all costs associated with transportation, providing a single upfront price for comprehensive services.

Allotment in shipping refers to the pre-arranged reservation of cargo space by shippers on a carrier's vessel, ensuring capacity for their goods over a specified time.

Additional recipient of shipping notifications, ensuring all relevant parties are informed about cargo status and updates during international shipments.

The air temperature of the surrounding environment, essential for maintaining product quality and operational efficiency across various industries.

Leading global organization dedicated to ensuring safety, quality, and environmental integrity in the maritime and offshore industries.

Key organization in the U.S. that develops and promotes voluntary consensus standards for various industries.

The central section of a ship, crucial for balancing loads and ensuring stability during maritime operations.

A financial guarantee for U.S. importers, ensuring compliance with Customs regulations and timely payment of duties and taxes.

ANSI X-12 is a widely accepted standard for electronic data interchange (EDI), enabling efficient and accurate business document exchange.

A trade policy tool that protects domestic industries from unfair competition caused by foreign goods sold below market value.

The visible condition of goods at the time of receipt by the carrier, indicating no signs of damage during initial inspection.

A customs designation that enhances supply chain security and facilitates trade for compliant businesses in international commerce.

An electronic system that streamlines customs transactions by enabling qualified participants to transmit import and export data to U.S. Customs electronically.

The Automated Commercial System (ACS) and its successor, the Automated Commercial Environment (ACE), streamline customs operations and enhance trade efficiency in the United States.

An electronic platform used for submitting export information to U.S. government agencies, streamlining compliance and documentation for international trade.

An electronic tool by U.S. Customs and Border Protection (CBP) that streamlines cargo data collection for efficient customs processing.

The total cargo space an airline offers, determined by multiplying the freight capacity in tonnes by the distance flown in kilometers.